Karti Chidambaram’s firm reportedly linked to 63 big corporate companies as per documents found during ED raids

Karti Chidambaram, son of former Finance Minister P Chidambaram, was under Enforcement Directorate’s lens for his involvement in obtaining FIPB (foreign investment promotion board) approvals for INX media after allegedly receiving bribes through Advantage Strategic Consulting Pvt Limited, a firm controlled by Karti Chidambaram. INX media is owned by the infamous couple Peter and Indrani Mukherjea. Indrani is accused of murdering their daughter Sheen Bora.

He had been grilled for 11 hours by ED on Thursday in relation to the INX media case against him.

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A CBI FIR has been registered against Karti Chidambaram, Mukerjea couple, INX media, Advantage Strategic Consulting Pvt Limited, Chess Management services and Padma Viswanathan, a director of Advantage Strategic Consulting Pvt Limited. However, startling revelations have emerged from raids in Chennai properties of Karti Chidambaram.

As per reports, 63 firms including big names like Vodafone, Cairn, Aditya Birla Nova, Arcelor-Mittal, Diageo, DLF, Essar, Godrej, GVK, Vedanta, Quippo, Maruti Suzuki and Sterlite, were found to be clients of Chess Management Services Private Limited as per documents recovered by ED at Karti Chidambaram’s properties. This might open a pandora’s box on past approvals given by the FIPB and CCEA headed by former finance minister P Chidambaram. The ED is now examining whether there were any irregularities in the past FIPB approvals.

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